Discussion around drug pricing often raises the issue of just how much NIH funding drives the development of new therapies. The general perception is that NIH funding is largely responsible for the creation and approval of new therapies. However, a new study by VitalTransformation (sponsored by BIO and PhRMA) finds that perception to be misguided. […]
The House Energy and Commerce Health Subcommittee on Tuesday held a hearing on “Negotiating A Better Deal: Legislation to Lower the Cost of Prescription Drugs.” All committee members called for legislation to lower drug costs, but differed along party line on how best to achieve that. House Democrats recently reintroduced H.R. 3, a sweeping drug pricing […]
The Biden administration has announced that they will back a waiver of the WTO Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement so that any country can produce vaccines without worrying about patent infringement. This has the potential to drastically hinder global vaccine manufacturing and distribution and sets a dangerous precedent for future pandemics. The […]
President Joe Biden’s first major joint address to Congress on Wednesday included calls to give Medicare the power to negotiate drug prices. “Let’s give Medicare the power to save hundreds of billions by negotiating lower prices… we pay the highest drug prices of anywhere in the world right here in America,” Biden said. BioUtah and other […]
Salt Lake City, Utah (April 22, 2021) – BioUtah President and CEO, Kelvyn Cullimore, issued the following statement after House Democrat leaders released their drug pricing proposal, H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act, based upon similar legislation introduced in the 116th Congress. “Utah has a long and proud history of […]
In case you missed the recent NOWCFO/Scalar webinar “What is Your Life Science or Bio Tech Company’s Worth?”, you can still pick up key takeaways from their informative power point. A successful life sciences company for sale can certainly be a hot commodity in today’s economy. Understanding your company’s value is vital to a lucrative […]
Congress is once again turning its attention to drug pricing, including the proposed use of foreign reference pricing models. Foreign reference pricing was part of the Lower Drug Costs Now Act passed by House Democrats in 2019 (also known as H.R. 3) and has resurfaced in legislation, the Prescription Drug Price Relief Act, recently introduced […]
On Wednesday, President Biden unveiled the first installment of his two-part Build Back Better plan – a sweeping $2.25 trillion infrastructure proposal billed as the American Jobs Plan. In addition to fixing highways, bridges and roads, which accounts for approximately 5% of the plan ( $620 billion), the measure calls for a myriad of administration […]
BioUtah has submitted a comment letter to CMS in response to concerns raised by the Biden administration around the Medicare Coverage of Innovative Technology (MCIT) rule finalized under President Trump on January 14. The MCIT program was set to take effect on March 15, but on March 12, in the form of an interim final […]
Policymakers in Washington are considering plans to replace the current market-based system for pricing prescription medicines with a system based on foreign reference pricing. If enacted, this policy will import to the US price controls that foreign countries use to deny patients access to the newest cures and treatments. It could also impede innovation and […]
Yesterday, President Biden signed into law the American Rescue Plan (H.R. 1319), a $1.9 trillion COVID-19 relief package that Congress approved this week. On Wednesday, the House of Representatives approved the Senate-passed version of the bill by a vote of 220 to 211, with one Democrat joining all Republicans in voting against it. Rep. Jared […]
Today, BioUtah recognizes Rare Disease Day – its patients, families, healthcare providers, advocates, policymakers and drug manufacturers – all dedicated to making a difference in the fight against rare disease. Here in Utah, we are working closely with our partners in the rare disease community to raise awareness and harness resources to support the goal […]